"Cost per mile" refers to the total expenses incurred for every mile traveled, often used in transportation and logistics. This metric helps businesses and individuals understand the financial implications of travel, including fuel, maintenance, insurance, and other operational costs. By calculating this figure, one can make informed decisions about routes, vehicle usage, and overall budgeting. For example, a delivery service might calculate its cost per mile to determine the most efficient way to transport goods. This information can also assist in setting competitive pricing for services, ensuring that costs are covered while maintaining profitability in the transportation industry.